(1) Without prejudice to any other action which may be taken against a licensee, the licensing authority may by order in writing cancel an agent's licence or suspend it for such period as it thinks fit, if in its opinion any of the conditions under which the premises have been approved or under which the licence has been granted have been contravened.
(2) Before making any order of suspension or cancellation under sub-rule (1) the Licensing Authority shall give the licensee an opportunity of being heard and shall record reasons in writing for such cancellation or suspension.
(3) The Licensing Authority may order the forfeiture in whole or in part of the security furnished by the licensee under sub-rule (4) of Rule 103 for contravention of any provision of this Rule or under Rules 103, 106 and 107 or for breach of any of the conditions specified in Rule 105 by the licensee:
Provided that no such forfeiture shall be made, unless the licensee is given an opportunity of being heard.
(4) In the event of the forfeiture of a security deposit or part thereof, the licence shall cease to be valid if the licensee fails to make payment to bring the security already furnished by him to its original value within thirty days of the receipt of the order of forfeiture.